St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-09-30
.Now ALLMEvbYfHEs pRrsEsTs.

KEOw ALLMENBY THESE PRESENTS:
IA That we, the undersigned, have agreed
to and do hereby associate ourselves togeth-
er for the purpose of becoming incorporated
under and pursuant to the laws of the state
OF Minnesota, and to that end we do hereby
adopt and sign the following articles. of in
corporation, viz:
First-The name of the corporation here
by formed shall be the Sandstone Townsite
company, and the general nature of its bust
ness shall be the buying, owning, leasing,
Plating. improving, selling, mortgaging and
dealing in. lands, tenements and heredita-
ments and real, personal and mixed estate in
the county of Pine and state of Minnesota,
The principal place for transacting the bust
ness OF SAD corporation shall be the city of
st. Paul, in the county of Ramsey and State
of Minnesota.
Second-The time of commencement of
said corporation shall be the 9th day of
September, 1887, and the period Of its con-
t%inuance shall be the term of thirty years.
Third-Thea amount OF capital stock of said
corporation shall be ten thousand 10,OO0)
dollars and shall be divided into D two
hundred) shares of the par value of fifty
G5U) dollars each and shall be paid for in
money OF such other property, real or per-
sonal, as the board of directors of such cor
poration may agree to accept in lieu of
money at the time of the issuance of said
stock.
Fourth-The highest amount of indebted.
ness or liability to which said corporation
shall be at any time subject shall be five
thousand 5000 dollars.
Fifth-The names of the persons forming
this corporation and their places of resi-
dence are: William I'll. Grant and job P.
Knowles, both residing at st. Paul. Ramsey
county, Minnesota; Fred a. Hodge and
James Hurley, both residing at Pine City,
Pine county, Minnesota.
Sixth-The government of said corporation
and the management of its affairs shall be
vested in a board of i've diractors, who shall
be elected from and by the stockholders at
the annual meeting, to be held as provided
in fhn h- Il -rr 81 10 - --.l :.
%rectors, Immediately after their election, shall
organize and elect from said stockholders a
president, secretary and treasurer. Said di-
rectors and officers shall respectively hold
their Office for the period of one year after
said election and until their successors are
elected and qualified. Said officers shall per-
form such duties as shall be prescribed by
the bylaws, and the Office of secretary and
treasurer may be filled by the same person.
The annual stockholders meeting for the
election of a board of directors, and the trans
action of SUI other busines as
may properly come before it. shall
poration at such time as the bylaws shall
prescribe, and special meetings of the stock
holders shall be held at such times and under
such rules and regulations as to notice or
otherwise as may be prescribed by the by
laws: and at such meetings stockholders may
be represented and vote by proxy duly ap-
pointed, and at any stockholders meeting
each stakeholder shall be entitled to one yote
for each share of stock held by him, and the
holders of a majority of the stock shall con-
stitute a quorum at such meetings for the
transaction of business.
The duties and compensation of the Off
GERS OF said corporation shall be fixed by the
bylaws The bylaws of said corporation
shall be adopted by the stockholders at their
first annual meeting, or at a special meeting
to be called for that purpose, and shall be
changed. altered or amended only at an an
nual meeting of the stockholders or at a spe-
cial meeting called for that purpose, but the
first board of directors may adopt bylaws
which shall continue in force until bylaws
shall have been adopted by the stockholders,
as hereinbefore provided.
TIL first board of directors of said corpora
ton shall consist Of William 81. Grant, John
P. Knowles. Fred A. Hodge and James Hur-
ley, and William II. Grant. Jr. of whom
William II. Grant shall be president and
John P. Knowles shall be secretary and treas
urer of said corporation, and shall hold their
Offices until the ext annual meeting of the
stockholders and until their successors are
elected and qualified.
In witness whereof we have hereunte set
our hands and seals this 9th day of Septem-
Der, 1887.
WILLIAM II. GRANT. [Seal.J
JOHN P. KNOWLES, fSeal.1
FRED A. HODGE, fSeal1